NES

Transaction Background

In October 2006 Graphite Capital led the secondary buy-out of NES, a recruitment agency which specialises in providing engineers to the oil and gas, infrastructure, power and IT sectors on a global basis. The company employs 350 people, is headquartered in Altrincham and has a further 19 offices in the UK and overseas.

Deal Attractions

Graphite backed a strong management team, headed by Neil Tregarthen. The company places candidates in markets with attractive growth fundamentals. NES predominantly supplies staff on long term contracts but also has a growing permanent recruitment business. The business benefits from geographical diversification and is not dependent on any single customer.

Achievements

the overseas and UK divisions have achieved strong sales and profit growth since the buy-out
the management team is performing well and a new finance director has joined the company
six new offices have been opened in the overseas business since the buy-out and there is an extensive pipeline of potential sites
NES has continued to develop the suite of value added services which it provides both contractors and corporate customers e.g. organising visas, providing tax advice and also manages health and safety issues on their behalf